Shark Tank Billionaire Kevin O’Leary Updates Crypto Bear Market Outlook: SEC Can Spark Next Bull Run
Kevin O’Leary, a Shark Tank contestant and venture investor, comments on the state of the cryptocurrency bear market and shares some of his latest allocations to his altcoin portfolio.
In a recent interview with Crypto Banter, O’Leary stated that his fund is considering increasing its holdings in the cryptocurrencies Helium (HNT) and Pollen (PCN), both of which are related to decentralized telecommunications use cases.
We can only own 5% of the working fund in Bitcoin, according to our own operating policy, therefore we also have positions in ETH, Solana and a number of other cryptocurrencies. We are currently debating between two very varied projects centered on the decentralization of telecommunications providers, Pollen and Helium. However, the main problem is that you simply cannot predict when these asset classes will move.”
O’Leary believes that the Stablecoin Transparency Act, a law intended to clarify regulatory requirements for stablecoins, will signify the industry’s imminent legalization and usher in a flood of new funding.
“I have a personal theory about regulation. I mentioned before that if the Stablecoin Act becomes law, it will be a hint that all cryptocurrencies will eventually be controlled. Regardless of your stance on regulation – some people like it, some don’t – consider this reality”.
The majority of the sovereign wealth funds that I represent as indexes have no investments in any form of cryptocurrency. They want Bitcoin, the big daddy, when you ask them if they want to buy something.
According to O’Leary, because the US market is so important to their other investments, sovereign wealth funds from around the world cannot afford to have a bad relationship with the US Securities and Exchange Commission (SEC).
Venture capitalists predict that once US officials give the all clear, major international players will flood the crypto markets.
The good news is that a trillion dollars can be bought for 50 basis points in Treasuries and pension funds. As a result, you have to vote for regulation, and if you invest a trillion dollars in Bitcoin, the value will rise to between $60,000 and $100,000. This money is carefree.
When they index it, an automatic bid will be made when it falls below the 50 bps they have agreed to own, and they will sell for strength, creating an extremely liquid market. That is very positive for Bitcoin, not negative.
Steve Anderson is an Australian crypto enthusiast. He has been a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralization, understanding the true potential of the blockchain.
